As futures traders turn “moderately bearish” on BTC, Bitcoin prepares for a $50,000 showdown


Bitcoin (Bitcoin) It was slightly close to $50,000 on August 22, as concerns about the bearish downturn reappeared in time.

BTC/USD 1-hour candlestick chart (Bitstamp). Source: TradingView

“Moderately bearish” signs are accompanied by a $50,000 increase

Data from Cointelegraph Markets Pro And Transaction view It shows that BTC/USD hit a high of 49,830 US dollars on Bitstamp on Sunday-which itself is a three-month record.

The weekend demonstrated a higher level of staying power, and even lower volume failed to trigger a decline.

“So far, very good for BTC,” trader and analyst Rekt Capital Summary.

Nevertheless, with the approach of $50,000, people began to worry about the overall strength of the market.

As pointed out by the monitoring resource material indicators, the habits of traders imply a belief in a lower level of return. A futures setting involves USD 32,000 and USD 34,000 settled at the end of August and September respectively.

This, account Arguing, Is “moderately bearish.”

“In addition, we have a lot of 50,000 put options, which shows that we have been rejected here,” it added, while also emphasizing the “over-financing rate across trading platforms.

Bitcoin financing rate chart. Source: Bybt

This view is naturally in line with the overall consensus of analysts, especially the stock-to-flow model and its creator’s “Worst case“The lowest monthly price.

PlanB explained this week that the price in August was US$47,000, while the US$43,000 in September is expected to be reduced only for technical reasons.

50,000 USD points hit a record high

Equally optimistic but equally calm is the popular trader John Wick on Twitter.

Related: 8/20 Price analysis: BTC, ETH, ADA, BNB, XRP, DOGE, DOT, SOL, UNI, BCH

“So far, some supply sides are worried about the $50,000 distribution,” he Say As part of the comments on Bitcoin breaking the $50,000 mark.

“If we can overcome this resistance zone, I will be more confident in this year’s ATH.”

BTC/USD annotated chart.Source: John Wick/Twitter

At the time of writing, before the return of professional traders and institutions on Monday, the BTC/USD trading price was slightly higher than $49,000.